Conventionally, a chip resistor has an arrangement that includes an insulating substrate, made of ceramic, etc., a resistive film formed by screen printing a material paste on a top surface of the insulating substrate, and electrodes connected to the resistive film. To set the resistance value of the chip resistor to a target value, a laser trimming of irradiating a laser beam to engrave a trimming groove in the resistive film is performed. More specifically, a method of engraving the trimming groove while measuring the resistance value of the resistive film until the measured value becomes the target value is adopted (see Patent Document 1).